Systems and methods for a payment card with multiple funding sources

a payment card and funding source technology, applied in the field of payment cards, can solve the problems of cumbersome payment card carrying, cumbersome payment processing, and a lot more time,

Active Publication Date: 2021-04-27
MASTERCARD INT INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

Facilitates faster and less frustrating transactions by allowing cardholders to manage multiple accounts on a single card, reducing the time and effort required to complete payments and minimizing the risk of declined transactions.

Problems solved by technology

Carrying several payments cards can be cumbersome.
In addition, at times a consumer may face issues such as insufficient funds or credit limit exceeded for certain ones of their payment cards.
The consumer then must use another payment card, which makes the payment process cumbersome and can take a lot more time.
In addition, the consumer may face embarrassment and / or humiliation when switching payment cards and trying to find a payment card that is successful for the transaction.

Method used

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  • Systems and methods for a payment card with multiple funding sources
  • Systems and methods for a payment card with multiple funding sources
  • Systems and methods for a payment card with multiple funding sources

Examples

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Embodiment Construction

[0018]The following detailed description of embodiments of the invention references the accompanying figures. The embodiments are intended to describe aspects of the invention in sufficient detail to enable those with ordinary skill in the art to practice the invention. The embodiments of the invention are illustrated by way of example and not by way of limitation. Other embodiments may be utilized, and changes may be made without departing from the scope of the claims. The following description is, therefore, not limiting. The scope of the present invention is defined only by the appended claims, along with the full scope of equivalents to which such claims are entitled.

[0019]In this description, references to “one embodiment,”“an embodiment,” or “embodiments” mean that the feature or features referred to are included in at least one embodiment of the invention. Separate references to “one embodiment,”“an embodiment,” or “embodiments” in this description do not necessarily refer to...

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PUM

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Abstract

A system and computer-implemented method includes the operations of transmitting a cold reset signal to a multiple-funding source payment card and receiving a first answer-to-reset message therefrom. The first answer-to-reset message includes governing rules for performing a single-swipe transaction. The operation also includes receiving payment account details for a first payment account in accordance with the governing rules. A first PIN associated with the first payment account is input by a cardholder and a first payment authorization request message for approval of the single-swipe transaction is transmitted. Upon receipt of a payment declined response message, a warm reset signal is transmitted to the payment card. A second answer-to-reset message is received including payment account details for a second payment account. The cardholder inputs a second PIN associated with the second payment account and a second payment authorization request message for approval of the single-swipe transaction is transmitted.

Description

FIELD OF THE DISCLOSURE[0001]The field of the disclosure relates generally to a payment card associated with multiple funding sources and, more particularly, to systems and methods for providing user selection among multiple funding sources via single swipe of a payment card.BACKGROUND OF THE DISCLOSURE[0002]A typical consumer may have several payment cards for performing payment card transactions, including for example, a debit card and one or more credit cards. Carrying several payments cards can be cumbersome. In addition, at times a consumer may face issues such as insufficient funds or credit limit exceeded for certain ones of their payment cards. A user may perform a transaction with a payment card and have the transaction declined. The consumer then must use another payment card, which makes the payment process cumbersome and can take a lot more time. In addition, the consumer may face embarrassment and / or humiliation when switching payment cards and trying to find a payment ...

Claims

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Application Information

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Patent Type & AuthorityPatents(United States)
IPC IPC(8): G06Q20/10G06Q20/22G06Q20/20G06Q20/40G06Q20/34
CPCG06Q20/227G06Q20/204G06Q20/3572G06Q20/4012G06Q20/3574G06Q20/3552G06Q20/3265G06Q20/405
InventorBISHNOI, VIKASBIJAWAT, SHUBHAMKUMAR, SHUBHAM
OwnerMASTERCARD INT INC